Services

Protests in Store for McDonald's Annual Meeting

McDonald's
Wikimedia Commons
A week following last Thursday’s global strikes and protests in 230 cities, hundreds of workers at McDonald’s Corp. (NYSE: MCD) are planning to travel to this Thursday’s annual shareholders’ meeting in a suburb of Chicago to continue raising their calls for a $15 an hour wage and the right to form a union. The protesters expect more than 2,000 supporters to be present.

Hard numbers are unavailable for last week’s strikes and other job actions, but organizers expected thousands of some 4 million U.S. fast-food workers to participate. The global strike was organized by the International Union of Food, Agricultural, Hotel, Restaurant, Catering, Tobacco and Allied Workers’ Associations, a federation comprised of 396 trade unions in 126 countries representing 12 million workers.

ALSO READ: Fast-Food CEOs Make 1,000 Times Worker’s Pay

In its annual report for last year, McDonald’s suggested that a wage hike may be necessary as a result of continued pressure:

The impact on our margins of labor costs that we cannot offset through price increases, and the long-term trend toward higher wages and social expenses in both mature and developing markets, which may intensify with increasing public focus on matters of income inequality…

Because so many fast-food outlets are franchised, corporations sometimes try to pin wage issues on franchisees. But as someone once pointed out, the fast-food companies set wages by setting the cost of everything except wages.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.